John Ydstie

John Ydstie has covered the economy, Wall Street and the federal budget for NPR for two decades. In recent years NPR has broadened his responsibilities, making use of his reporting and interviewing skills to cover major stories like the aftermath of 9/11, Hurricane Katrina and the Jack Abramoff lobbying scandal. His current focus is reporting on the global financial crisis. Ydstie is also a regular guest host on the NPR news programs Morning Edition, All Things Considered, Weekend Edition and Talk of the Nation.

During 1991 and 1992 Ydstie was NPR's bureau chief in London. He traveled throughout Europe covering, among other things, the breakup of the Soviet Union and attempts to move Europe toward closer political and economic union. He accompanied U.S. businessmen exploring investment opportunities in Russia as the Soviet Union was crumbling. He was on the scene in The Netherlands when European leaders approved the Maastricht Treaty, which created the European Union.

In August 1990, Ydstie traveled to Saudi Arabia for NPR as a member of the Pentagon press pool sent to cover the Iraqi invasion of Kuwait. During the early stages of the crisis, Ydstie was the only American radio reporter in the country.

Ydstie has been with NPR since 1979. For two years, he was an associate producer responsible for Midwest coverage. In 1982 he became senior editor on NPR's Washington Desk, overseeing coverage of the federal government, American politics and economics. In 1984, Ydstie joined Morning Edition as the show's senior editor, and later was promoted to the position of executive producer. In 1988, he became NPR's economics correspondent.

During his tenure with NPR, Ydstie has won numerous awards. He was a member of the NPR team that received the George Foster Peabody for its coverage of 9/11. Ydstie's reporting from Saudi Arabia helped NPR win the Alfred I. duPont-Columbia University Award in 1991 for coverage of the Gulf War. Prior to joining NPR, Ydstie was a reporter and producer at Minnesota Public Radio. While there, he was awarded the Clarion Award for his report "Vietnam Experience and America Today."

A graduate of Concordia College, in Moorhead, MN, Ydstie earned a bachelor of arts degree, summa cum laude, with a major in English literature and a minor in speech communications.

Ydstie was born in Minneapolis, and grew up in rural North Dakota.

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Economy
5:37 am
Sat May 5, 2012

On Jobs, Bad News Is Bad. The Good News Is Bad, Too

People wait in a line at a job fair on April 10, 2012, in Gresham, Ore. Employment grew by 115,000 last month, but the unemployment rate dip was likely due to people leaving the workforce rather than people getting hired, analysts say.
Rick Bowmer AP

Originally published on Sun May 6, 2012 9:26 am

For the second month in a row, weak job growth numbers unsettled nerves in the White House and on Wall Street.

It's obvious why the number of jobs added to the economy in April was disappointing. Employment grew by just 115,000. That followed a disappointing job gain in March. Together, the March and April average was only about half the 250,000 jobs added monthly in December, January and February.

Again, economists suggested the warm winter weather might have boosted job growth during the winter months, which left fewer jobs to be added in the spring.

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The Two-Way
1:55 pm
Sat April 21, 2012

At The IMF, $430 Billion In Pledges Buys Leverage For Emerging Markets

Originally published on Mon April 23, 2012 5:09 am

The UK gave some support to the emerging market nations' quest for a greater role today at the IMF during the spring meetings of the World Bank and International Monetary Fund in Washington, D.C.

Chancellor of the Exchequer George Osborne said the UK's $15-billion contribution to the IMF's enhanced crisis fund could not be accessed until further progress is made on giving the emerging market a greater voice in how the is Fund is run.

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Europe
5:22 am
Sat April 21, 2012

Emerging Markets Promise IMF Financial Firepower

International Monetary Fund Managing Director Christine Lagarde announced Friday that the IMF had raised $430 billion, surpassing its stated goal.
Charles Dharapak AP

Originally published on Sat April 21, 2012 9:46 am

International Monetary Fund officials and members of the G-20 nations announced Friday that member countries have pledged $430 billion to add to the Fund's crisis-fighting arsenal.

The Fund's managing director Christine Lagarde came into the annual World Bank-IMF spring meetings in Washington, D.C., with a goal of raising $400 billion from member states. She was clearly happy and relieved as she announced a number larger than that.

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Business
2:00 am
Tue April 17, 2012

U.S. Has A Natural Gas Problem: Too Much Of It

Oil field workers drill into the Gypsum Hills near Medicine Lodge, Kan. Hydraulic fracturing, or "fracking," to coax out oil and gas has led to a natural gas boom that the U.S. market is having trouble absorbing.
Orlin Wagner AP

Originally published on Tue April 17, 2012 6:43 am

There's a boom in natural gas production in the United States, a boom so big the market is having trouble absorbing it all.

The unusually warm weather this winter is one reason for the excess, since it reduced the need for people to burn gas to heat their homes. A bigger reason, however, is the huge increase in gas production made possible by new methods of coaxing gas out of shale rock formations.

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Economy
12:50 pm
Thu April 5, 2012

Just How Strong Is The Job Market?

Job seekers attend a career fair in New York City. Federal Reserve Chairman Ben Bernanke says the quick drop in unemployment might have been a reversal of overzealous cutbacks during the financial crisis.
Spencer Platt Getty Images

Originally published on Fri April 6, 2012 4:44 am

The monthly employment report Friday could help answer a key question about the economy: Will the recently strong job growth slow once employers finish replacing the people they fired during the depths of the recession?

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Business
3:03 am
Mon April 2, 2012

Oil Scare Turns FedEx Onto Energy Efficiency

A FedEx hybrid delivery truck. In FedEx's fleet of over 90,000 vehicles, 408 are hybrid or electric, and 4,000 are fuel-efficient, lower-emitting "Sprinter" vans.
Courtesy of FedEx Corp.

The rising cost of oil isn't just a hit to the family budget. Businesses are hurt, too. Few are more affected than firms like FedEx. It deploys nearly 700 planes and tens of thousands of trucks and vans every day to deliver packages around the world. And few business leaders are more focused on finding alternatives to petroleum-based fuels than FedEx CEO Fred Smith.

Shortly after Smith founded Federal Express, the 1973 Arab oil embargo almost killed it. The experience imprinted Smith with a keen interest in the price and availability of oil.

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Business
3:00 am
Wed March 28, 2012

Enbridge, Enterprise To Increase Pipeline Capacity

Transcript

RENEE MONTAGNE, HOST:

And the controversial Keystone XL pipeline, whose construction has been delayed over environmental concerns, could now face some competition.

As NPR's John Ydstie reports, two companies have announced plans to build pipelines that would carry out the same service as the XL, channeling oil from Canada's tar sands to refineries in the Gulf of Mexico.

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The Two-Way
10:45 am
Fri March 23, 2012

Why Gas Prices Are Rising Even As Demand Is Down

The prices at a gas station in Los Angeles earlier this month.
Frederic J. Brown AFP/Getty Images

On Morning Edition this week we looked at "What's Making Americans Less Thirsty for Gasoline?"

Now let's examine another important question: "If our demand for gasoline is falling, why are prices in the U.S. rising?"

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Energy
4:04 am
Thu March 22, 2012

What's Making Americans Less Thirsty For Gasoline?

Growing demand for more fuel-efficient cars and trucks, like these 2009 Dodge Journey crossover vehicles, has helped drive down gasoline consumption in the U.S.
David Zalubowski AP

Originally published on Fri March 23, 2012 6:03 am

The price of gasoline keeps rising for Americans, but it's not because of rising demand from consumers.

Since the first Arab oil embargo of the 1970s, the U.S. has struggled to quench a growing appetite for oil and gasoline. Now, that trend is changing.

"When you look at the U.S. oil market, you see that there's actually no growth," says Daniel Yergin, chairman of IHS Cambridge Energy Research Associates.

He says gasoline demand peaked in 2007 and has fallen each year since, even though the economy has begun to recover.

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Economy
7:00 am
Sat March 17, 2012

Markets Hit Milestones; Goldman Sachs Gets Bashed

Transcript

JACKI LYDEN, HOST:

This is WEEKEND EDITION from NPR News. I'm Jacki Lyden. Checking on your retirement and mutual fund statements is getting a bit less scary. The stock market cleared another hurdle this week with the S&P 500 closing above 1,400 for the first time in almost four years, and the Dow Jones Industrials up almost 25 percent from in recent low back in early October. NPR's John Ydstie is here to tell us what's driving the market. John, thank you for coming in.

JOHN YDSTIE, BYLINE: You're welcome, Jacki.

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Energy
11:01 pm
Tue March 6, 2012

Is U.S. Energy Independence Finally Within Reach?

A worker hangs from an oil derrick near Williston, N.D. The state now produces 500,000 barrels of crude oil per day, and production continues to rise.
Gregory Bull AP

Originally published on Wed March 7, 2012 7:17 pm

Rising gas prices have been the big energy story of the past several weeks. But many energy experts say that's a sideshow compared with the really big energy event — the huge boom in oil and natural gas production in the U.S. that could help the nation reach the elusive goal of energy independence.

Since the Arab oil embargo of 1973, energy independence has been a Holy Grail for virtually every American president from Richard Nixon to Jimmy Carter to Barack Obama.

But now, it might just be within reach.

The Shale Gale

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Economy
2:13 pm
Mon February 20, 2012

With Business Up, Owners Say Banks Lending Again

Originally published on Tue February 21, 2012 10:26 am

A big reason for the slow recovery has been that the nation's battered banks haven't been able or willing to lend. There are signs that's changing and that bank lending is helping to support stronger growth.

Paul Kasriel, chief economist at Northern Trust, a Chicago-based bank, say his reading of Federal Reserve data has convinced him that banks have finally taken the baton from the Fed and are now making credit more available.

"We've seen a sharp increase in business loans on the books of banks," he says.

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Economy
2:00 pm
Fri February 3, 2012

Improved Job Figures Surprise Economists

Originally published on Fri February 3, 2012 5:54 pm

Transcript

AUDIE CORNISH, HOST:

January's weather looked like spring in much of the country, and today's monthly employment report suggests it's spring in the job market, too. As NPR's John Ydstie reports, the economy added 243,000 jobs in January, and the unemployment rate dropped for the fifth straight month.

JOHN YDSTIE, BYLINE: Nobody expected that job creation in January would be this strong, or that the unemployment rate would fall again to 8.3 percent – nobody including John Silvia, chief economist at Wells Fargo.

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Economy
12:50 pm
Tue January 31, 2012

GOP Candidates Reopen Debate Over Gold

If president, Newt Gingrich says he would appoint a monetary policy commission to reconsider returning to the gold standard.
Michal Cizek AFP/Getty Images

The glitter of gold has provided some added luster to the Republican primaries in the past couple of weeks, as Newt Gingrich recently suggested it might be a good idea to re-establish the link between the value of the dollar and gold.

"I would appoint a commission to look into gold and to look into hard money, because a dollar you save today ought to be worth a dollar 30 years from now," Gingrich said while recently campaigning in South Carolina.

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Economy
11:01 pm
Thu January 12, 2012

In GOP Campaign, Private Equity Firms Draw Flak

Originally published on Fri January 13, 2012 11:20 am

Was Mitt Romney a job-creating turnaround artist? Or was he, as some on the campaign trail have said, a "vulture capitalist"? That question has become a top issue in the Republican presidential primaries.

In the 1980s, Romney ran a private equity firm called Bain Capital. It's an industry where it's hard to avoid getting your hands dirty.

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